L3Harris Completes Sale of its Electron Devices and Narda Microwave-West Businesses
October 04 2021 - 8:00AM
Business Wire
L3Harris Technologies (NYSE:LHX) has completed the sale of its
Electron Devices and Narda Microwave-West businesses to Arlington
Capital Partners, a Washington, DC-area private equity firm.
Proceeds from the divestitures are expected to be used for share
repurchases.
The businesses were part of L3Harris’ Aviation Systems segment
and are leading providers of RF amplification products for the
space, electronic warfare, radar, medical and industrial end
markets. The businesses have more than 800 employees across its
three facilities in Torrance, CA, Williamsport, PA and Folsom,
CA.
About L3Harris Technologies L3Harris Technologies is an
agile global aerospace and defense technology innovator, delivering
end-to-end solutions that meet customers’ mission-critical needs.
The company provides advanced defense and commercial technologies
across space, air, land, sea and cyber domains. L3Harris has
approximately $18 billion in annual revenue and 47,000 employees,
with customers in more than 100 countries. L3Harris.com.
Forward-Looking Statements This press release contains
forward-looking statements that reflect management's current
expectations, assumptions and estimates of future performance and
economic conditions. Such statements are made in reliance upon the
safe harbor provisions of Section 27A of the Securities Act of 1933
and Section 21E of the Securities Exchange Act of 1934. The company
cautions investors that any forward-looking statements are subject
to risks and uncertainties that may cause actual results and future
trends to differ materially from those matters expressed in or
implied by such forward-looking statements. Statements about the
expected use of proceeds for share repurchases are forward-looking
and involve risks and uncertainties. L3Harris disclaims any
intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events,
or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20211004005490/en/
Rajeev Lalwani Investor Relations
Rajeev.Lalwani@L3Harris.com 321-727-9383
Jim Burke Media Relations Jim.Burke@L3Harris.com
321-727-9131
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